Intel CEO Pat Gelsinger earned 1,711 times as much as the average worker at the U.S. chipmaker in 11 months since he joined in February last year, a regulatory filing showed.
Compared to Gelsinger, Intel’s former CEO Bob Swan had earned 217 times more than the average Intel employee in 2020.
Pat Gelsinger earned $178.6 million in 2021 with stock awards making up nearly 79 percent of his total compensation, which was about 698 percent higher than Bob Swan’s 2020 pay.
Apple CEO Tim Cook earned 1,447 times the average employee’s salary at the technology giant in 2021. Shareholders of Apple approved the pay package despite proxy advisory firm Institutional Shareholder Services pushing against it.
Intel has asked shareholders to vote in favor of its executives’ compensation at the annual stockholder’s meeting on May 12.
Pat Gelsinger was CEO of VMWare before he returned to Intel as its top boss. He had spent 30 years at Intel before leaving.
His compensation included one-time new-hire equity awards with a target value of about $110 million, according to the filing.